Page 4 - Standard Chartered

RBI-ESMA logjam: Banks turn to EU, UK regulators over trade impact concerns

Banks expressed concerns about trade impact, disruptions seen in OIS, bond markets

Bank officers' union protests against violation of HR norms by StanChart

The All India Bank Officers' Confederation (AIBOC) has alleged violation of HR practices by foreign lender Standard Chartered Bank and submitted a detailed memorandum requesting the bank's CEO for immediate remedial measures. The union also alleged that the bank is delaying in recognising Association of Standard Chartered Bank Officers (Kolkata) ASCBO despite several reminders. The right to form association/union is a fundamental right enshrined under Article 19 (1) (C) of the Constitution of India, and any attempt to disavow and thwart the fundamental rights of members of ASCBO will not be condoned by AIBOC, the memorandum said. "The obsolete pay scales and the unsettled service conditions beckons for an overhaul...it is imperative to approve fair and appropriate service conditions for the officers, in consonance with the industrial norms and practices," it said. AIBOC general secretary Soumya Datta urged the management of Standard Chartered Bank to initiate dialogue with the ASCB

StanChart posts 40% jump in quarterly profit, raises income outlook

Standard Chartered posted a 40% increase in quarterly profit, as the emerging markets-focused bank benefited from a sharp rise in income on higher interest rates

Hong Kong homes on the verge of becoming least affordable in 24 years

Hong Kong housing is at risk of becoming the least affordable in 24 years, as rate hikes by the US Federal Reserve drive up borrowing costs in the Asian financial hub

Tata Sons to raise $500 mn in offshore loan, backed by BofA, SMB

Tata Sons will raise $500 million in offshore borrowings, backed by Bank of America, SMBC of Japan and Standard Chartered Bank

Standard Chartered raises India's current account deficit estimate to 3.8%

The British bank raised its CAD forecast for fiscal year ending March 2023 to 3.8% of India's GDP from its earlier estimate of 3.0%

StanChart CEO sees shallow and short recession by early 2023: Here's why

"I think central banks have to take this inflation problem head on," Winters told the Reuters Global Markets Forum (GMF) on Wednesday

Mittals looking to raise $2 bn to buy portion of Singtel stake in Airtel

As per a media report, Mittals are in talks with some major banks like BNP Paribas, Bank of America, Citibank, JPMorgan, and Standard Chartered to raise over $2 billion

Standard Chartered settles case with Sebi in CG Power case; pays Rs 4.97cr

Standard Chartered Bank has settled with markets regulator Sebi a case pertaining to alleged violations of norms in the matter of CG Power and Industrial Solutions Ltd after paying Rs 4.97 crore

Loved by banks, bond trade worth Rs 2 trn faces scrutiny from RBI

Traders argue that the transactions are structured as so-called forward rate agreements, which are permitted by the RBI, allowing them to clear internal compliance checks

Standard Chartered, IATA tie up forh payment platform for airline industry

Standard Chartered said it has partnered with the International Air Transport Association (IATA) to launch a payment platform for airline industry in India.

StanChart full-year profit doubles, to begin $750 mn share buyback

The bank said the improved outlook led it to raise its target of delivering a return on tangible equity of at least 7% by 2023, with its longer-term goal being a double-digit return

Standard Chartered's NBFC arm ramps up retail book fast

The bank has 100 branches in the country, but is obliged to open roughly 40% of its branches in rural areas. An NBFC has no such obligation as of now

Citigroup's Asia retail units may draw bids from DBS, StanChart

Binding bids for Citigroup's retail assets in Indonesia, the Philippines, Taiwan and Thailand are due on Friday, while offers for the India unit are due next week

RBI penalises Standard Chartered Rs 1.95 cr for gaps in customer protection

Regulator found that bank did not credit amounts involved in unauthorised electronic transactions (shadow reversal) and did not report cyber security cases within prescribed time

Standard Chartered sees bitcoin hitting $100,000 by early next year

Bitcoin was at $46,024 in early European trading on Wednesday

Return of the fat cats? Europe's bank bonuses rise as profits rebound

Banks have added billions of dollars to bonus pools as they try to reassure restless staff they will be rewarded in 2021 after a lean 2020.

Wall Street giants get swept up by India's brutal coronavirus wave

India's total coronavirus infections have risen to 21.5 million, of which about a third were added since mid-April

Singapore-based SC Ventures plans to divest its stake in B2B company

According to sources, the platform, set up last September, hopes to hit the unicorn status ($1 billion) by the mid-third quarter of next year

Saudi local office must for foreign firms to get state contracts from 2024

The government has told foreign companies that, from 2024, they can only secure state contracts if they have local offices